The Chicago Entrepreneur

Maxar Technologies stock more than doubles on buyout offer from Advent International

Maxar Technologies Inc. shares jumped 116% in premarket trades Friday after the geospatial intelligence and aerospace company agreed to be acquired by Advent International in a deal that values the company at $6.4 billion. Advent agreed to pay $53 a share, a premium of 129% over Maxar’s closing stock price on Thursday. Maxar will become a private company after the deal closes as expected in the middle of 2023. Funds advised by Advent have committed 3.1 billion in equity, while British Columbia Investment Management Corp. is providing $1 billion. The merger pact includes a 60-day “go-shop” period expiring on Feb. 14.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post 5 things to know before the stock market opens Friday
Next post Olive Garden parent Darden Restaurants posts lower profit but beats estimates, shares rise